SWECO

The credit facility is intended to be utilised for general corporate purposes and for acquisitions. The new credit facility now includes a sustainability link, which means that Sweco’s annual interest expense is linked to the annual outcome of the key performance indicators (KPIs) for the company’s climate impact and workforce environment. The KPIs are linked to Sweco’s GHG emission reductions targets, which have been validated and approved by the Science Based Targets initiative (SBTi), as well as to the commitment to increase gender equality among employees. 

“This sustainability-linked credit facility is a testimony to our long-term commitment to integrating sustainability in everything we do. We thank our bank partners for their renewed confidence and counsel in this important work,” says Olof Stålnacke, CFO of Sweco.  

The credit facility has a tenor of three years, with two extension options of one year each, subject to lenders approval. The facility has been arranged with the existing bank syndicate consisting of SEB, Swedbank and Svenska Handelsbanken, with SEB acting as the sustainability coordinator.
  
The RCF sustainability performance targets are based on the following Group-wide targets:

• 90 per cent reduction in absolute Scope 1 and 2 GHG emissions by 2030 from a 2020 base year (SBTi approved).
• 30 per cent reduction in absolute Scope 3 GHG emissions from purchased goods and services, capital goods, fuel- and energy-related activities, waste management, business travel and employee commuting by 2030 from a 2020 base year (SBTi approved).
• Reach 40 per cent female employees Group-wide by 2040.